For used car buyers this is a boon. You can pick up a nice older E class for a few thousand dollars if you know a bit about what to look for and what to avoid.
Yes, this might make sense if you could do the maintenance yourself --- but this is not at all easy or even possible in some cases without expensive/specialized electronic tools --- and this is all by design.
Something that should be simple like changing the battery is actually an intricate process on some models involving all sorts of resets and nonsense. A mistake can "brick" your car. I know someone who did this and had to have the car towed to the dealership where they were subjected to a good ole fashioned ($$$) reaming --- all for a dead battery.
For me, a 5 year old Mercedes is just not worth the headache --- and again, this is by design IMO. If you choose to buy one for basic transportation, my advice is make sure you have a backup vehicle.
Yes this is more and more true of any car. And yes I'm assuming you can handle at least routine maintenance and repairs yourself. My newest is a W211 which is about 20 years old now. Reliable drivetrain, pretty easy to work on overall, most electronic systems can be at least read if not managed by a generic scan tool such as a YouCanic.
You can find them cheap enough so that if they have a major failure you just scrap it and find another one. If they last a few years, you have a comfortable solid car for way less than making payments and depreciation on a new one.